Home Altcoins News Algorand Virtual Machine (AVM) Developer Hour Scheduled June 29, 2021

Algorand Virtual Machine (AVM) Developer Hour Scheduled June 29, 2021

Algorand Virtual Machine AVM

Whether you want to know more about the Algorand Virtual Machine (AVM) or learn how to tokenize assets on the blockchain, there are guides available in the Algorand Ecosystem.

There is no need to code tokenized assets on Algorand using a Smart Contract.  The tokenized assets on Algorand leverage the Algorand Standard Assets (ASA) framework to create new tokens, which can be either fungible or non-fungible on the Layer-1.  The creation of tokens happens within just a few minutes.

ASA works like the underlying technology for tokenization processes, thus letting issuers benefit from all the important features of the Layer-1 network, which includes high throughput, decentralization, speed, security, and transparency, among several others.

The tokenization process will be deployed on Layer-1 by way of a simple transaction.  These assets are highly configurable making it possible for developers to mint token to further configure them to permit revoking and freezing of assets.

The major benefits of ASA are:  They are fast and secure due to the capabilities of Layer-1 technology.  The minting and maintaining of the ASAs is cheap because Algorand charges only fractions of a penny in transaction fees. Algorand emphasizes on user experience thus issuing assets via ASA tool.  When compared to all other Algorand assets, ASAs benefit from universal interoperability.  ASAs make possible Role Based Asset Control (RBAC), which is optional and flexible asset controls for developers and managers for the purposes of business, compliance, and regulatory requirements.

Those who are willing to know more about the Algorand Virtual Machine should watch out for the next developer hour set to take place on June 29, 2021.  Paul Riegle, Chief Product Officer at Algorand will be leading the developer hour.

Previously Paul Riegle stated the following about Algorand:  “Besides being the first carbon negative smart contract system, they run at over 1000TPS, they cost .001 Algos, and they run at Layer 1. The Algorand Virtual Machine is made do power the most complex smart contracts.

The Algorand model is simple.  It makes it possible to write smart contracts in an accessible higher level language like reachlang, which are then compiled down to AVM bytecode and executed by the AVM.

Algorand is making use of the same simple, tried and true model pioneered by Ethereum with some twists.

Still the same 1000TPS & 4.5 second block latency that you and your users know and love – even for smart contracts and still the same miniscule costs to run your dApps.  Safe smart contracts with runtime guardrails and languages that provide more protections. Reach Lang provides js like language with safety guarantees & simplifies dApp creation by specifying the entire dApp – smart contracts, front/back end clients and comms in between.

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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